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Financial News: Sweden Industrial Production Growth Eases Unexpectedly

Sweden Industrial Production Growth Eases Unexpectedly

06/07/2017 - 07:42:00 (RTTNews)

(RTTNews) - Sweden's industrial production growth eased unexpectedly in April, preliminary figures from Statistics Sweden showed Wednesday.

Industrial production climbed a calendar-adjusted 0.8 percent year-over-year in April, much slower than the 3.6 percent rise in March. Meanwhile, economists had expected the growth to improve to 4.1 percent.

The measure has been rising since September 2016.

Mining and quarrying output expanded 10.2 percent annually in April and manufacturing production registered a moderate increase of 0.4 percent.

Month-on-month, industrial production dropped a seasonally adjusted 2.4 percent from March, when it showed no variations. Meanwhile, it was expected to climb by 0.8 percent.

Another report from the statistical office showed that orders for industry rose at a slower rate of 4.4 percent yearly in April, following a 10.3 percent spike in March. Monthly, orders fell 4.0 percent after remaining flat in the prior month.

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